Japan famously does much of its political wrangling behind closed doors, often making leadership contests drab affairs. Wednesdays vote to choose the next head of the Liberal Democratic Party, who is set to become prime minister, is shaping up as a rare exception.
Traders will need to stay glued to the race throughout the day as party members select one of four candidates who are in the running to replace Yoshihide Suga in an unusually open election.
Here’s what to look out for.
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– The Timeline
Unlike 2020’s truncated vote that saw Suga fill the gap left by Shinzo Abe stepping down, more than 1 million rank-and-file members of the LDP will join lawmakers in this election.
Each group has 382 votes, though that number can change if there are abstentions. The rank-and-file finish casting their ballots on Tuesday while the lawmakers follow on Wednesday, when the results of both are announced.
(All times are estimates and in JST)
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1 p.m.: Party lawmaker voting begins
2:20 p.m.: Results are announced
— If any candidate gets a clear majority of votes — an unlikely outcome — they are declared the winner
– If not, a run-off vote between the top-two candidates begins immediately. In this vote, lawmakers retain their 382 votes, but just 47 go to the prefectural chapters of the rank-and-file members
3:40 p.m.: Winner of the run-off vote is announced
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The winner will speak to the press later in the day, and is set to be elected as prime minister when parliament convenes on Oct. 4.
– The Scenarios
It looks unlikely that any candidate will secure enough votes for a first-round majority.
Public favorite Taro Kono “is likely to lead in the first round, but fall short of securing a majority,” Goldman Sachs Group economists wrote in a Sept. 27 note. Attention then turns to how many lawmaker votes go to the second-place candidate, likely to be Fumio Kishida or Sanae Takaichi.
SMBC Nikko Chief Economist Junichi Makino is among those who sees Kishida as having the advantage in a run-off, but sees a path for Kono if LDP Secretary-General Toshihiro Nikai seeks to block Kishida. If Nikai and Finance Minister Taro Aso’s factions vote Takaichi into the run-off, then “a victory for Kono becomes possible,” he wrote.
– Last Time
It’s been nearly a decade since the LDP had an open battle for leader. In a similar race to what’s expected Wednesday, Shigeru Ishiba finished first in that vote, but failed to secure a majority, with Abe coming second. In the run-off vote, Ishiba was handily defeated, and Abe elected.
While that day the run-off result came before the 3 p.m. stock market close, reaction was muted — the Abenomics surge didn’t happen until later that year as elections approached, with the LDP still in opposition at the time.
– Watch Media
With party member voting ending Tuesday, watch local media, who will be exhaustively polling to try to identify the winner. In 2012, the Sankei declared the morning of the vote that Abe was favorite to win a run-off, correctly predicting Ishiba would win the first round but that Abe would dominate the second phase.
The Cabinet on Tuesday approved fresh borrowing of 1.344 trillion baht for the new fiscal year, which starts next month.
The new borrowing comes under the Cabinet-approved debt management plan. The plan includes 1.5 trillion baht already borrowed by the government plus a 2022 repayment plan totalling 339.29 billion baht, said a government spokesperson.
Under the plan, the country’s public debt is expected to reach 62.69 per cent of GDP by the end of fiscal year 2022, up from 55.59 per cent as of this July.
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Earlier this month, the government lifted the debt ceiling from 60 to 70 per cent of GDP to boost fiscal flexibility in combating the Covid-19 crisis.
The leading destination for vegetarian food, with a variety of vegetarian food in one place from 5 to 14 October 2021. The campaign is expected to increase customer traffic by 15-20% as we have increased confidence through our master plan of ‘Central Hygiene & Safe Plus+’
Central Pattana plc, operator of centralwOrld, CentralPlaza, CentralFestival, Central Phuket and Central Village, is joining hands with its business partners including Thaitheparos plc, and Dairy Plus Co., Ltd., manufacturer and distributor of Dna Soy milk, along with Central Pattana affiliate CENTRAL FOODPARK to hold the ‘Thailand J Food Festival 2021’ highlighting its success as the leading vegetarian food destinations. Its concept of ‘J Integrated Lifestyle’ has tapped into consumer insights by combining traditional vegetarianism with the lifestyles of the new-generation consumers all in one place. With its strengths of operating shopping centers nationwide, Central Pattana can easily reach all target groups. More than 5,000 vegetarian dishes including traditional, international from world-famous restaurants, fusion, legendary street-food restaurants, bakeries and cafes are available at the shopping centers. To catch up with the trend of ‘Hyper Localism’, plant-based foods from local ingredients are also available for those who are health conscious. Herbal vegetarian dishes at budget prices starting from only 19 baht are available at Central Food Park. You can worship to the Guan Yin (goddess of mercy) and the Tao Bo (goddess of the stars) to ask for blessings and good health. Many special promotions await to create new experiences for everyone at the ‘Thailand J Food Festival: gain merit, be happy and healthy’, from 5 to 14 October 2021 at 33 Central shopping centers nationwide.
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
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Dr. Nattakit Tangpoonsinthana, Executive Vice President of Marketing at Central Pattana, said: “The vegetarian festival at Central shopping centers each year, not only do we select the finest vegetarian dishes from legendary and popular restaurants, we also look thoroughly into today’s consumers lifestyle. We tap into the insights of their eating habits and interests (including various trends) in order to adjust our strategy accordingly and be able to curate a range of restaurants and shops that truly meet the needs of all groups of consumers. This year, we are presenting the vegetarian festival under the concept of ‘J Integrated Lifestyle’, combining traditional vegetarianism with latest trends, expanding the target range to a new group such as ‘Zillennials’ or Gen Z (aged 18-24 years) who tend to be health conscious, and who have reduced meat consumption and switched to plant-based foods, and following the current trend of ‘Hyper Localism’ by selecting healthy local ingredients that also help to strengthen immunity. The vegetarian festival at Central shopping centers, therefore, is responding to this trend with a new choice of food and lifestyles to add more options and variety to the vegetarian festival.
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
We’re collaborating with world-famous restaurants to launch international vegetarian menus including Italian-style vegetarian food from Italian Osteria, Korean-style vegetarian food from Over Seoul, and Singaporean-style vegetarian dishes from Chuan Kitchen in addition to world-class restaurants such as Din Tai Fung, Hai Di Lao and TP Tea, which will also launch their first vegan bubble tea only at centralwOrld. We are also collaborating with partner restaurants and shops to create an exclusive menu that is a signature for each branch that cannot be found elsewhere.”
“Moreover, there are activities to enhance your fortune following the tradition of the vegetarian festival; tips to enhance your luck; tips on how to prepare yourself before commencing a vegetarian diet during this period and on how to pay homage to the Guan Yin Goddess, which is brought directly from China to CentralPlaza Bangna etc. It is expected that the vegetarian festival at Central shopping centers nationwide will help stimulate spending at the end of the year and customer traffic will increase by 15-20%,” Dr. Nattakit added.
Discovering special promotions at the vegetarian festival e.g. CentralPlaza Bangna offers: 1) get a free cash dining voucher worth 200 baht when spending 1,000 baht and up on dining in the shopping centers (limited to 100 vouchers/day); 2) Get a free exclusive vegetarian dish from participating shops at the festival booths when spending 300 baht and up on vegetarian food at the event (limited to 1,000 customers throughout the program) etc.
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
Highlights at ‘Thailand J Food Festival 2021’ that you should not miss:
• Central World, the ultimate destination for international vegetarian food, is gathering over 500 vegetarian dishes at the ‘wOrld of vegetarian’ where you can enjoy new dishes from famous restaurants such as Italian Osteria, Over Seoul, Chuan Kitchen, Din Tai Fung, Hai Di Lao, and TP Tea. Discovering original vegetarian foods from well-known and legendary street food restaurants such as Talalask, See Fah, Zheng Dou, Lee Café and healthy vegetarian dishes with plant-based food from the ‘Healthiful zone’ of Central Food Hall, which is bringing together various healthy ingredients plus convenient vegetarian food items such as vegetarian croissants from Captain Squid and other items from Easy Buddy, KumPoon and Ampersand.
Don’t miss the ‘Only @ centralwOrld’ dishes – TP Tea will introduce its first vegetarian menu with: Signature Black Tea Soy Latte, Premium Green Tea Soy Latte, TieGuanYin Tea Soy Latte. Italian Osteria will introduce Italian-style vegetarian ‘Casual & Home Eateries’ with three special dishes: Beetroot Linguini on Pecorino Cheese Fondue, Broccoli Pie on Plunking Puree and Fermented Garlic with Jerusalem Artichokes. Ampersand is presenting its Thai Herb Sorbet, which combines a fusion of turmeric, ginger, fingerroot and lemon, the four finest Thai herbs of this era, in the form of sorbet.
• CentralPlaza Bangna brings more than 500 sweet and savory vegetarian dishes from 30 well-known restaurants from all over the country, rotating the menu every day. For example, vegetarian fish maw from Xie Chinatown, Chinese chives from Talat Phlu, Ngow Kuay Krathong Phueak (five fried Chinese nuts in a taro basket) from Hong Min restaurant, and Lao Kong herbal drinks from Yaowarat. Enjoy the exclusive auspicious food zone, which presents the most auspicious dishes from seven master ingredients – highly recommended during the vegetarian festival. Be blessed at the worshipping session of the goddess of mercy (originally from China) and enjoy good health with a choice of vegetarian food, clean food, food for those on a Keto or no-carb diet with no concern of gaining weight.
• CentralPlaza Rama 3 gathers together over 300 vegetarian street food menu items from 50 well-known restaurants across the city into one place. Don’t miss out on seven legendary street food restaurants with exclusive menus only at CentralPlaza Rama 3! Special dishes include Bok Kia, (sweet shaved ice with various toppings) from Je Niaw shop, Bang Rak; Ew Kuay (stuffed crispy cake) from Je Kiao Yaowarat; à la carte noodles that you can select from 9 types of noodles, 9 types of soups and 27 topping ingredients; KanKee Namtao Thong‘s herbal drinks, Teochew Dim Sum from Lim Uang Sui at Yaowarat Market, Fish Maw Soup by Je Aeng, a popular restaurant from Talat Phlu and flavored radish from Mae Yark Thum, a homemade specialty delivered directly from Bon Marché Market Park.
• Central Phuket – feel blessed in the new normal style by asking for blessings and luck from nine respected shrines through QR codes such as Peng An Peng An (wishing you happiness) at Central Phuket Floresta and enjoy delicious vegetarian food from popular vegetarian restaurants at Central Phuket with ‘Triple Value’ promotions from the ‘More Deliciousness at Central Phuket’ campaign.
• CentralPlaza WestGate invites you to taste the best vegetarian dishes and original recipes from restaurants such as vegetarian steamed buns from Lim Uang Sui restaurant, Golden Taro from Shangri-La Restaurant, Jui Guay (Chinese steamed dumplings) from Li Chim Hia Restaurant, Pad Paed Sian (stir-fry with eight main ingredients), fresh tofu soft sheet from Hua Seng Hong restaurant and Jiaogulan herbal tea from Muen Li tea shop.
• CentralPlaza Pinklao brings deliciousness to please health-conscious customers such as avocado salad, quinoa, vegetarian grilled mushrooms and spaghetti bolognese with vegetarian sauce from Salad Mood, and nourish the body with the great ‘Triphala’ (three great Thai herbs) dishes from Bua Loy Klom Kleaw restaurant and vegetarian fish maw soup from Je Aeng restaurant at Talat Phlu.
• CentralFestival Chiangmai presents its vegetarian food festival for the Year of the Ox to please amulet lovers with a highlighted menu called ‘J Good Luck’ – vegetarian dishes that enhance luck and auspiciousness for each element of all 12 zodiac signs, followed by a procession of vegetarian fusion dishes such as fried shiitake with Korean sauce, vegetarian dumplings, and vegetarian ‘Gimbap’, in addition to more than 300 healthy vegetarian dishes from popular restaurants in Chiang Mai such as Mae Salong Villa, Asian Fusion, old recipe Bokkia dessert, Je Im Thip, Grandma’s Homemade Tofu, Pansuk Salad. Bread lovers should not miss out on brioche bread, a unique and original French bread served at The Vegano Britro and made by a 5-star hotel bakery and confectionery chef.
• CentralPlaza Chiangmai Airport – feel blessed and healthy with vegetarian menus from well-known restaurants such as vegetarian steak from Ban Rai Steak, vegetarian dim sum from Chala No.6, vegetarian Kanom Jeen (rice noodles) from Zong Yaowarat, and vegetarian dishes from Le Meridien Shangri-La and Siripanna etc.
The Thailand Office of Innovation and Value Creation of the Department of International Trade Promotion (DITP) under the Ministry of Commerce presents the Design Excellence Award 2021 (DEmark 2021) in honor of the 98 business operators and designers who prove their excellence in various categories of design.
The award presentation promotes the outstanding and unique designs that increase the value of Thai products. They have been introduced to worldwide markets through a live event on the “DEmark’ Thailand” Facebook page.
Nantapong Chiralerspong, Deputy Director-General of the DITP, said, “The DEmark Award project helps increase the value of Thai products and services. It develops the marketing potential of business operators including SMEs and micro SMEs. It also opens up trade opportunities, helps boost the national economy, proactively promotes international trade and enables Thai business operators to compete in global markets.
The DITP expects the DEmark logo to be the certificate of quality Thai products when it is recognized locally and internationally. This will support business operators in increasing the value of their products. Consumers will have confidence in their reliable products and services while the value addition of the products and services is upgraded and their standards are raised.”
The DEmark 2021 contest was organized on the theme of “Regenerative Design for the Next” and was intended to be a catalyst for the reform of designs to serve the changing lifestyles of people worldwide who must adapt to their New Normal. Designers and business operators were invited to the DEmark Award contest in June. An online exhibition, DEmark Show Online 2021, was held at the website of the project to present 590 entries in July and August. The entries were judged online on July 20-23.
Of the entries, 98 won awards in various categories.
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Industrial Process/Industrial Craft 20 items
Gift & Decorative Items/Household Items 16 Items
Creative & Innovative Fashion/Apparel/Jewelry/Textile etc. 13 items
Home Appliances/Smart Product-Service Solutions/User-Oriented IOTs/Wearables, Automated Services, Medical & Health Design, Sustainable Innovation etc. 14 items
Packaging Design 13 items
Font/Graphic on Surface/Digital Media/Identity Design 17 items
Ministry of Commerce presents “Design Excellence Award 2021” (DEmark)Ministry of Commerce presents “Design Excellence Award 2021” (DEmark)
The DEmark Award project has been successfully promoting excellent Thai designs to the eyes of international consumers. Since 2008, 991 designs have received the DEmark Award and 485 have won the G Mark Award. This year, 21 entries garnered the G Mark 2021 Award.
Interested parties can see the Thai products that have won the awards at demarkaward.net which is another marketing channel for both producers and buyers.
“In response to the five-year Thai trade strategic plan as instructed by His Excellency Jurin Laksanawisit, the Deputy Prime Minister and the Minister of Commerce, the Department is ready to cooperate with all concerned governmental and private organizations to throw support and share information for the sake of trade development.
“The DEmark project has received cooperation and support from many local and international organizations. The Japan Institute of Design Promotion (JDP) which organizes the G Mark contest in Japan, the Taiwan Design Research Institute (TDRI), the organizer of the Golden Pin Design Award, and the Hong Kong Exporters’ Association (HKEA), the host of the Hong Kong Smart Design Awards contest, sent their representatives to be the judges of the DEmark Award this year. Besides, Siam Piwat Co., Ltd. has consistently sponsored the DEmark project and provided space for its public relations. The cooperation with more international organizers of design awards should ensure benefits from the DEmark project and excellent designs will be widely recognized and lead to trade achievements in the future,” Mr. Nantapong added.
The DEmark Award promotes excellent Thai designs internationally. Award winners received the DEmark logo as the certificate of their design excellence. Business operators can use it as a marketing tool to make their products eye-catching. The DEmark Award increases the value of excellently designed Thai products and guarantees their international recognition. It also stimulates the development of Thai products for the better life of local and international consumers.
For more information, please contact the Thailand Office of Innovation and Value Creation of the Department of International Trade Promotion at tel. 061 032 6594, 082 954 5965 and 0 2507 8278 or at the email address: demark@demarkaward.net.
The Stock Exchange of Thailand (SET) Index closed at 1,616.50 on Tuesday, down 3.52 points or 0.22 per cent. Transactions totalled 98.94 billion baht with an index high of 1,626.55 and a low of 1,614.31.
The index fell for the second day running after dropping 0.68 per cent on Monday.
In the morning session, Krungsri Securities forecast the index on Tuesday would move between 1,610 and 1,630 points despite rising oil and coal prices in line with global economic recovery.
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It said the index also gained positive sentiment from Thailand’s move to lift Covid-19 restrictions on more businesses to get the economy running.
“However, uncertainty over the domestic floods and a weakening baht would trigger outflows of foreign funds, resulting in pressure on the index,” Krungsri Securities added.
The 10 stocks with the highest trade value today were KBANK, PTT, PTTGC, PTTEP, SCB, TRUE, BANPU, BBL, TOP and SCC.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 30,183.96, down 56.10 points or 0.19 per cent.
China’s Shanghai SE Composite Index closed at 3,602.22, up 19.39 points or 0.54 per cent, while the Shenzhen SE Component Index closed at 14,313.82, down 30.46 points or 0.21 per cent.
Hong Kong’s Hang Seng Index closed at 24,500.39, up 291.61 points or 1.20 per cent.
South Korea’s KOSPI closed at 3,097.92, down 35.72 points or 1.14 per cent.
Taiwan’s TAIEX closed at 17,181.44, down 132.33 points or 0.76 per cent.
Thai Chamber of Commerce chairman Sanan Angubolkul said on Monday that the easing up of lockdown measures and reopening of more businesses from October 1 will improve the confidence of the business sector and increase people’s spending in October.
The Centre for Covid-19 Situation Administration announced on Monday that child development centres, libraries, museums, art galleries, nail salons, tattoo shops, spas and massage shops, and cinemas in dark red provinces will be allowed to open under certain conditions from October 1.
The curfew in dark red zones will also be reduced to 10pm-4am from October 1, while complexes, convenience stores and sports areas – indoor and outdoor – can stay open an hour longer until 9pm.
“We estimate that the easing up of lockdown measures will help create more economic activities and increase total economic spending in October to Bt10-12 billion per day,” he said. “If this trend goes on until the year-end, we could see total economic expansion of 2021 back in the positive realm.”
Sanan added that the continued vaccination drive throughout the country, the arrival of more vaccines and increased affordability of antigen test kits will boost the confidence of businesses and general public in the government’s administration of Covid-19 situation, and in return they will be more willing to comply to disease control measures to curb the spreading.
The chamber, however, expressed concern over the flood situation in several provinces, which is estimated to cost the economy Bt5-10 billion, while urging related agencies to help affected entrepreneurs get back on their feet as soon as possible to minimise the economic impact.
The baht opened at 33.59 to the US dollar on Tuesday, weakening from Wednesday’s closing rate of 33.50.
The Thai currency is likely to move between 33.45 and 33.65 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said that the baht might continue to weaken in the short term if it weakens over the key resistance level of 33.50 to the US dollar. He expected that the baht could weaken from 33.80 to 33.85.
The flood situation pressured investors to sell Thai stocks as they were afraid that it could be as bad as the 2011 floods. Meanwhile, the Asian market was in a risk-off state due to the Evergrande crisis.
The baht might also be pressured by importers buying the dollar in the short term or at the end of the month. Gold investors might buy on dips when gold price is US$1,750 per ounce. The baht might not strengthen and its key support level is from 33.20 to 33.30, Poon said.
Investors, especially in the US, are in a risk-off state after US Federal Reserve officials signalled a decrease un quantitive easing soon as the economy was recovering and the inflation was at a high level longer than expected. He said Fed officials did not signal increases in interest rate.
He added that the market was pressured by the Evergrande crisis as the company did not pay interest to investors on September 23. The market is keeping an eye on the end of this month and the beginning of next month when the company will have to pay interest of US$193.3 million.
The Stock Exchange of Thailand (SET) Index rose by 4.55 points, or 0.28 per cent, to 1,624.57 on Tuesday morning, witnessing a high of 1,626.55 and a low of 1,622.67 in opening trade.
The SET Index closed at 1,620.02 on Monday, down 11.13 points or 0.68 per cent. Transactions totalled 135.31 billion baht with an index high of 1,639.97 and a low of 1,616.60.
Krungsri Securities forecast the index on Tuesday would move between 1,610 and 1,630 points despite rising oil and coal prices in line with economic recovery.
It added that the index also gained positive sentiment from the Centre for Covid-19 Situation Administration’s move to ease Covid-19 restrictions in a bid to enable businesses to perform economic activities.
“However, uncertainty over the domestic floods and weakening baht would trigger foreign funds outflow, resulting in pressure on the index,” Krungsri Securities said.
The price of gold rose by THB100 in morning trade on Tuesday.
AGold Traders Association report at 9.28am said the buying price of a gold bar was THB27,800 per baht weight and selling price of THB27,900, while gold ornaments cost THB27,303.16 and THB28,400, respectively.
At close on Monday, the buying price of a gold bar was THB27,700 per baht weight and selling price THB27,800, while gold ornaments cost THB27,197.04 and THB28,300, respectively.
Spot gold price on Tuesday morning was moving at around US$1,754 (THB58,985) per ounce after Comex gold at close on Monday rose slightly by 30 cents to $1,752 per ounce. However, the gold market was under pressure from the appreciation of the US dollar and the rise in US government bond yields.
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
Unveiling the ultimate ‘Thailand J Food Festival’ at Central shopping centers
Ministry of Commerce presents “Design Excellence Award 2021” (DEmark)
Ministry of Commerce presents “Design Excellence Award 2021” (DEmark)
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